The EURUSD pair has been quiet since last 24 hours after printing highs at 1.1820 levels. Please note that the next resistance in line is at 1.1850 levels and if 1.1820 give away, bulls would like to test 1.1850 levels before giving in to bears again. As an alternate though, it is quite possible that a meaningful top could be in place at 1.1820 and EURUSD could be carving a potential triangle at a lower degree. If the latter count holds, prices could stay below 1.1820 and reverse sharply from current price action. Please note that the movement/breakout could be very sharp after the consolidation. We remain neutral for now.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.